Washington Street Real Estate is moving forward with a $5.1 million speculative office building in downtown Greenville, pulling a commercial building permit on June 26 for a four-story structural steel tower at 405 E McBee Avenue. The Harper Corporation is listed as the general contractor on the project, which represents a notable investment in new downtown office space at a time when many markets nationwide are pulling back from speculative construction.
What the Permits Show
Permit 2600001280, now in issued status, authorizes construction of a new four-story structural steel-framed office building with a brick exterior. The permit description classifies the project as new offices, banks, and professional space, and the comments indicate the scope includes provisions for mechanical, electrical, plumbing, and fire protection systems. The total permit valuation comes in at $5,116,056.
The building is being developed by Washington Street Real Estate and built by The Harper Corporation, a well-known general contractor in the Upstate. The "speculative" designation in the permit comments means the building is being constructed without pre-committed tenants — the developer is betting that demand for downtown office space will fill the building after completion. The site at 405 E McBee Avenue places the project squarely in the eastern stretch of Greenville's urban core, within walking distance of Falls Park and the Main Street corridor.
Why It Matters
A spec office project of this scale in downtown Greenville sends a clear signal about investor appetite for the city's commercial real estate market. While many U.S. downtowns continue to grapple with elevated office vacancy rates following the shift to remote and hybrid work, Washington Street Real Estate is committing more than $5 million to a ground-up build without tenants in hand. The East McBee corridor has seen growing activity in recent years, and the addition of a new four-story office building adds to the area's evolving mix of uses. For brokers and business owners tracking available space, this project could bring a meaningful block of new inventory to the downtown market within the next 12 to 18 months.